Vendor consolidation continues with Fiserv deal for Atlanta firm

The core-tech vendor Fiserv has agreed to buy Online Banking Solutions in Atlanta.

The deal is expected to close by yearend, Brookfield, Wis.-based Fiserv said in a news release Monday. The terms were not disclosed.

It is part of a broader trend of consolidation among vendors and financial-technology providers as they try to broaden their service offerings and as banks seek to scale back the number of companies they need to hire. Fidelity National Information Services, known as FIS, announced in August that it would buy SunGard Data Systems for $9.1 billion, and Fiserv agreed early in the year agreed to buy ACI Worldwide's community financial services business for $200 million.

Fiserv, which already incorporates Online Banking Solutions products across several of its core-processing platforms, said the deal announced Monday would strengthen its ability to help banks offer cash management and digital-banking services to businesses.

"The addition of Online Banking Solutions' technologies further enables Fiserv clients to provide greater value to their commercial customers through sophisticated cash management solutions when and where they need them," Jeffery Yabuki, president and CEO of Fiserv, said in the release.

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